Leonidas G. Barbopoulos

University of Edinburgh

Associate Professor of Finance

University of Edinburgh Business School

29 Buccleuch Place

Edinburgh, Scotland EH8 9JS

United Kingdom

  • University of Edinburgh

SCHOLARLY PAPERS

22

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3

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3

Scholarly Papers (22)

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1.

Market Efficiency in the Age of Machine Learning

NYU Stern School of Business Forthcoming
Number of pages: 70 Posted: 02 Mar 2021 Last Revised: 29 Jun 2022
Leonidas G. Barbopoulos, Rui Dai, Tālis J. Putniņš and Anthony Saunders
University of Edinburgh, Wharton Research Data Services (WRDS), University of Technology Sydney (UTS) and New York University - Leonard N. Stern School of Business
Downloads 1,064 (31,113)

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Market efficiency; Information acquisition; Machine learning; Informed trading; Algorithmic trading

2.

The Mystique of the Boutiques: The Wealth Effects of Boutique Banks in Mergers and Acquisitions

Number of pages: 40 Posted: 02 Apr 2020 Last Revised: 03 Mar 2021
Samer Adra, Leonidas G. Barbopoulos and Elie Menassa
University of Sheffield, University of Edinburgh and University of Balamand
Downloads 91 (403,269)
Citation 1

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Financial advisors; Boutique banks; Mergers and Acquisitions; Private target companies; Small public targets; Abnormal returns

3.

The Informational Consequences of Good and Bad Mergers

Journal of Corporate Finance, Forthcoming
Number of pages: 38 Posted: 23 Mar 2021 Last Revised: 06 Oct 2022
Samer Adra and Leonidas G. Barbopoulos
University of Sheffield and University of Edinburgh
Downloads 73 (458,686)

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Stock price informativeness; Endogenous information production; Mergers and Acquisitions; Analyst coverage.

4.

Does CEO Acquisition-Selectivity Skill Matter to Firm Value?

Number of pages: 56 Posted: 01 Nov 2018
Leonidas G. Barbopoulos and John A. Doukas
University of Edinburgh and Old Dominion University - Strome College of Business
Downloads 66 (483,585)
Citation 1

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CEO acquisition selectivity skill, corporate takeovers, abnormal returns, post-merger efficiency gains, investment (in)efficiency

5.

Connected Advisors and M&A Outcomes

Number of pages: 45 Posted: 06 Jun 2022
Leonidas G. Barbopoulos, Yizhe Dong, Chang Li and Haoyu Li
University of Edinburgh, University of Edinburgh Business School, East China Normal University (ECNU) and University of Edinburgh Business School
Downloads 50 (550,546)

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Mergers and Acquisitions, Advisors; Investment banking, Social connection

6.

The Effects of Fed Information Shocks on M&As: Initiation, Completion, and Shareholder Gains

Number of pages: 29 Posted: 16 Nov 2021 Last Revised: 17 Nov 2021
Samer Adra and Leonidas G. Barbopoulos
University of Sheffield and University of Edinburgh
Downloads 42 (590,497)

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7.

Monetary Shocks and the Analyst Coverage of the Firm

Number of pages: 9 Posted: 17 Jun 2022 Last Revised: 27 Aug 2022
Samer Adra and Leonidas G. Barbopoulos
University of Sheffield and University of Edinburgh
Downloads 21 (730,077)

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Monetary Policy, Analyst Coverage, Leverage.

8.

Earnout Deals: Method of Initial Payment and Acquirers’ Gains

European Financial Management, Vol. 24, Issue 5, pp. 792-828, 2018
Number of pages: 37 Posted: 16 Nov 2018
Leonidas G. Barbopoulos, Krishna Paudyal and Puliyur Sudarsanam
University of Edinburgh, University of Strathclyde and Cranfield University - School of Management
Downloads 7 (864,643)
Citation 1

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acquirers’ gains, asymmetric information, earnout contracts, initial payment in earnout deals

9.

Incentive‐Compatible Contracts in Merger Negotiations: The Role of Acquirer Idiosyncratic Stock Return Volatility

Financial Markets, Institutions & Instruments, Vol. 29, Issue 1, pp. 3-40, 2020
Number of pages: 38 Posted: 20 May 2020
Dimitris Alexakis and Leonidas G. Barbopoulos
Independent and University of Edinburgh
Downloads 6 (875,886)

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acquirer idiosyncratic stock return volatility (sigma), earnouts, information asymmetry, propensity score matching (PSM), risk‐adjusted returns

10.

The Role of Earnout Financing on the Valuation Effects of Global Diversification

Journal of International Business Studies, Vol. 49, Issue 5, 2018
Number of pages: 29 Posted: 13 Jun 2018
Jo Danbolt, Dimitris Alexakis and Leonidas G. Barbopoulos
University of Edinburgh Business School, Independent and University of Edinburgh
Downloads 1 (938,947)
Citation 1
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cross-border acquisitions (CBAs), first-time CBAs (FTCBAs), multinational corporations (MNCs) and enterprises (MNEs), contingent earnouts, event study

11.

Earnout Financing in the Financial Services Industry

International Review of Financial Analysis, Vol. 47, 2016
Posted: 16 Mar 2021
Leonidas G. Barbopoulos, Philip Molyneux, Philip Molyneux and John O. S. Wilson
University of Edinburgh, University of SharjahUniversity of Sharjah - College of Business Administration and University of St. Andrews

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Earnouts, Acquisitions of financial institutions, Propensity score matching, Rosenbaum-bounds

12.

Relative Equity Market Valuation Conditions and Acquirers’ Gains

Andriosopoulos, D., and L.G Barbopoulos, Relative Equity Market Valuation Conditions and Acquirers’ Gains, Review of Quantitative Finance and Accounting volume 49, pages 855–884 (2017).
Posted: 16 Mar 2021
Dimitris Andriosopoulos and Leonidas G. Barbopoulos
Strathclyde Business School and University of Edinburgh

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Acquirers’ gains, Relative equity market valuation conditions, Abnormal returns, Post-merger performance

13.

Liquidity and Information Asymmetry Considerations in Corporate Takeovers

Adra, S., and L.G., Barbopoulos, Liquidity and Information Asymmetry Considerations in Corporate Takeovers, The European Journal of Finance 2019, VOL. 25, NO. 7, 724–743 https://doi.org/10.1080/1351847X.2018.1543202
Posted: 16 Mar 2021
Samer Adra and Leonidas G. Barbopoulos
University of Sheffield and University of Edinburgh

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Stock market liquidity, Listed targets, Private targets, Method of payment, Takeover premia, Risk-adjusted returns

14.

Do Corporations Learn from Mispricing? Evidence from Takeovers and Corporate Performance

International Review of Financial Analysis, Vol. 68, 2020
Posted: 16 Mar 2021
Samer Adra and Leonidas G. Barbopoulos
University of Sheffield and University of Edinburgh

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Mispricing, Information, Acquisitions, Acquirer returns, Corporate profits

15.

Foreign Direct Investment in Emerging Markets and Acquirers’ Value Gains

Leonidas Barbopoulos, Andrew Marshall, Cameron MacInnes, Patrick McColgan, Foreign Direct Investment in Emerging Markets and Acquirers’ Value Gains, International Business Review, Volume 23, Issue 3, 2014, Pages 604-619, ISSN 0969-5931, https://doi.org/10.1016/j.ibusrev.2013.10.003. (https:/
Posted: 16 Mar 2021
Leonidas G. Barbopoulos, Andrew P. Marshall, Cameron MacInnes and Patrick McColgan
University of Edinburgh, University of Strathclyde - Strathclyde Business School, University of Strathclyde and University of Strathclyde

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Announcement period returns, Corruption, Emerging markets, Foreign direct investment, Physical assets, Political risk

16.

The Impact of Monetary Policy on M&A Outcomes

Journal of Corporate Finance, Vol. 62, 2020, NYU Stern School of Business Forthcoming
Posted: 16 Mar 2021
Samer Adra, Leonidas G. Barbopoulos and Anthony Saunders
University of Sheffield, University of Edinburgh and New York University - Leonard N. Stern School of Business

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Federal funds rate, Expected financing cost, Monetary policy uncertainty, Real options, Mergers and Acquisitions (M&As), Acquirer abnormal returns, M&A completions

17.

The Valuation Effects of Investor Attention in Stock-Financed Acquisitions

Journal of Empirical Finance, Vol. 45, 2018
Posted: 16 Mar 2021
Samer Adra and Leonidas G. Barbopoulos
University of Sheffield and University of Edinburgh

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Investor attention, Corporate takeovers, Payment method, Acquirer abnormal returns

18.

The Role of Real Options in the Takeover Premia in Mergers and Acquisitions

International Review of Economics & Finance, Vol. 61, 2019
Posted: 16 Mar 2021
Leonidas G. Barbopoulos, Louis T. W. Cheng, Yi Cheng and Andrew P. Marshall
University of Edinburgh, The Hang Seng University of Hong Kong - Department of Economics and Finance, Hong Kong Polytechnic University and University of Strathclyde - Strathclyde Business School

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Real options, Takeover premia, Acquirer abnormal returns, Target abnormal returns

19.

The Earnout Structure Matters: Takeover Premia and Acquirer Gains in Earnout Financed M&As

International Review of Financial Analysis, Vol. 45, 2016
Posted: 16 Mar 2021
Leonidas G. Barbopoulos and Samer Adra
University of Edinburgh and University of Sheffield

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Earnout financing; Information asymmetry; Takeover premia; Abnormal returns; Propensity Score Matching; Rosenbaum-bounds

20.

Legal Systems and Gains from Cross-Border Acquisitions

Journal of Business Research, Vol. 65, 2012
Posted: 16 Mar 2021
Leonidas G. Barbopoulos, Krishna Paudyal and Gioia Pescetto
University of Edinburgh, University of Strathclyde and University of Portsmouth

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Cross-border mergers and acquisitions; Legal tradition; Investor protection; Capital mobility; Exchange rate dynamics

21.

Determinants of Earnout as Acquisition Payment Currency and Bidder's Value Gains

Journal of Banking and Finance, Vol. 36, 2012
Posted: 16 Mar 2021
Leonidas G. Barbopoulos and Puliyur Sudarsanam
University of Edinburgh and Cranfield University - School of Management

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Earnout, Acquisition performance, Method of payment, Information asymmetry, Valuation risk

22.

Macroeconomic News and Acquirer Returns in M&As: The Impact of Investor Alertness

Journal of Corporate Finance, Vol. 64, 2020
Posted: 02 Mar 2021 Last Revised: 03 Mar 2021
Leonidas G. Barbopoulos, Samer Adra and Anthony Saunders
University of Edinburgh, University of Sheffield and New York University - Leonard N. Stern School of Business

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Macroeconomic indicators, Investor attention, Mergers and acquisitions (M&As), Small deals, Risk-adjusted returns, Buy-and-hold abnormal returns